Copper: today's Asian morning copper jump opened at 5742 US dollars / ton, in the morning as investors bet that the Federal Reserve will cut interest rates to deal with the impact of public health events, the dollar index fell back in the morning, the market is expected to join hands with the global central bank to stabilize the market, pushing crude oil, US stocks and other risky assets low back up, a significant boost to copper prices. Lun copper opened short-term to hit a high of $5780.5 / ton, and then slowly descended to repair the early jump gap. Until entering the European market, the initial price hit a bottom of $5709.5 / ton. As of 17: 30, the price of Lun copper was $5718.5 / tonne, down $5 / tonne, or 0.08 per cent. The evening economic data were light, focusing on the Fed's late remarks on interest rates. Recently, due to the impact of the epidemic, the global economic downturn has stimulated governments to launch liquidity operations, which is good for the bulk market, but under the current epidemic background, the preference of safe haven assets remains high, putting great pressure on the upward trend of copper prices. At present, the copper collecting body completely restores the Brin middle track, and the downward expansion of Brin opening has also converged, and the technical surface has improved. Waiting for the guidance of the dollar and crude oil at night to test whether Lun copper has a chance to rebound the position of 5740 US dollars / ton.
Today, the Shanghai copper main contract 2004 morning short jump opened at 45850 yuan / ton, after the opening shock weakened, the center of gravity has stabilized around 45700 yuan / ton and 45640 yuan / ton, copper prices continued to fall back to 45500 yuan / ton in the afternoon, the end of the day rebounded slightly and closed at 45620 yuan / ton, up 2004 yuan / ton, up 1.36%. The main position of Shanghai copper decreased by 517 hands to 123000 hands per day; the main performance was the reduction of short positions; the trading volume decreased by 27000 hands to 54000 hands. Shanghai copper index daily position reduction of 4294 hands, to 365000 hands, mainly for short reduction; trading volume decreased by 54000 hands to 150000 hands. The main force of Shanghai copper is operating below the daily average line within the day. Although the morning sky jump is high, but the overall rising momentum is insufficient, the main reason is that the capital market briefly ended the catharsis of panic from yesterday, and the copper price continued to open high yesterday. However, the continued upsurge of copper in Shanghai is obviously weak. At present, the panic of high dismissal of copper prices has come to an end, and the main reason is that the domestic epidemic situation has been brought under control, and the rate of return to work of enterprises has increased significantly within the week. It has given a boost to the copper market; However, as there has been no substantial improvement in the epidemic situation abroad, key Iranian officials have been infected one after another, and South Korean cases are also increasing with each passing day, and the risk remains in essence, limiting the price of copper to rise. It is expected that the rising trend of non-ferrous metals will not continue until there is good news about the epidemic abroad. At present, Shanghai copper receives the cross star, and the top bears the pressure 10 and 20 averages, the technical aspect looks high lacks the motive force, continues to pay attention to the overseas epidemic situation trend, tests whether Shanghai copper can continue to hold the 45500 yuan / ton level.
Today, Shanghai electrolytic copper spot to the current month contract discount 120 yuan / ton ~ 90 yuan / ton, Pingshui copper transaction price 44300 yuan / ton ~ 44370 yuan / ton, Shengshui copper transaction price 44320 yuan / ton ~ 44380 yuan / ton. Shanghai copper continued to rebound to 45500 yuan / ton, up more than 500 yuan / ton from yesterday. Plate rose, the market continued yesterday's offer, Pingshui copper is unwilling to lower shipment, high price in the discount 120 ~ 110 yuan / ton range, if the market has a low price source is still favored by traders, good copper quotation tends to maintain stability, concentrated in the discount 100 yuan / ton, downstream to maintain just need, but the willingness to consume weaker than yesterday, wet copper slightly reduced to 200 yuan / ton discount. The market has the intention to depress the price, but the holder's willingness to raise the price is clear, the disk continues to recover some of last week's decline, but the rebound height is temporarily suppressed, so that part of the downstream buying mood is cautious, the market initiative transaction enthusiasm is weakened, the transaction heat is obviously not as good as yesterday, supply and demand performance stalemate saw. Afternoon disk pressure slightly lower, the spot market continued to stalemate, the offer has not changed, Pingshui copper price discount 120-110 yuan / ton, good copper discount 100-90 yuan / ton, the transaction price fell to 45200-45280 yuan / ton.
Aluminum: Lun aluminum opens at $1717 per ton in the morning. During the Asian period, Lun aluminum fluctuated around the narrow range of the 20-day moving average, the trend was relatively weak in the afternoon, turned strong in the afternoon, broke through the 20-day moving average high once touched 1721 US dollars / ton, as of 15:00 Lun aluminum was at 1716 US dollars / ton. During the European period, Lun aluminum kept the range volatile and tried to continue to rush, as of 17:36, Lun aluminum reported a day high of $1722.5 / ton. The dollar index low has rebounded, overseas panic has not calmed down yet, it is expected that in the evening Lun aluminum will still step back on the 20-day moving average attachment and continue to consolidate.
The Shanghai aluminum main contract was opened at 13265 yuan / ton in the morning of 2004. As a result of the closing of aluminum last night, the opening of Shanghai aluminum hit a daily high of 13385 yuan / ton. Subsequently, due to short multi-level warehouse departure, Shanghai aluminum maintained a weak shock, to the afternoon Shanghai aluminum hit a low of 13260 yuan / ton, the end of the day short profit left the market, closed at 13280 yuan / ton. Positions fell 2099 to 124579, while the Shanghai Aluminum Index increased 1469 positions to 398709. At present, there is still no significant positive, recessive inventory continues to make aluminum prices under pressure, but the low rebound of the outer plate has also formed a certain drive to the domestic. It is expected that Shanghai Aluminum will continue to be entangled in the 5-day moving average tomorrow.
In the spot market, aluminum is dominated by interval shocks in the early afternoon. The spot transaction price in Shanghai Wuxi market is concentrated in the range of 13140-13160 yuan / ton, which is about 120 yuan / ton higher than that of yesterday. After 11: 00, the spot rising water is slightly narrowed, concentrated between 90-70 yuan / ton, and the transaction price in Hangzhou is 13150-13170 yuan / ton today. In the morning in East China, the trading between the buyers and sellers is more active, the delivery is OK, after 10: 30, the shippers converge, but the enthusiasm of the middleman to receive the goods does not decrease, the market transaction presents the market priceless situation, the price of a small amount of quoted source of goods is raised to 13160-13170 yuan / ton, but at this time the market transaction heat turns weak, the actual transaction is not much. Downstream today on-demand goods, receiving status is not as good as yesterday. In the afternoon, aluminum maintained range fluctuations, the holder quoted in the vicinity of 13170 yuan / ton, the disk sticking around 50 yuan / ton, only a small number of transactions between traders, few downstream.
Lead: within the day, Lun lead opened at $1857 / ton, Asia time, Lun lead pressure daily average shock decline, entering the European period, Lun lead once fell to $1843 / ton, below by the 5th 10 th 20 adhesion support of the three moving averages, get the momentum to return to the $1850 line above the daily moving average, as of 17: 30, Lun lead temporarily closed at $1852 / ton, down 0.5%. Lun lead temporary acceptance of the small negative line, LME lead 0-3 contract to maintain the back structure, led to today's LME inventory report increased by 475 tons, but at present there is pressure on the support, the upper 40, 60 days moving average line to form a double strong pressure, nocturnal lead or continue interval shock pattern.
Within days, the Shanghai lead main force 2004 contract short opened at 14715 yuan / ton, high open low walk, all-day pressure daily averages shock decline, near the close, profit long accelerated exit, Shanghai lead fell to 14580 yuan / ton, the final report at 14580 yuan / ton, position reduced 1737 to 22490 hands. Shanghai lead closed barefoot small negative line, high shock, medium-and short-term moving average trend flattened, Shanghai lead upward pace slightly difficult, from the fundamental point of view, the domestic recycled lead supply is in a slow recovery stage, at this time outside funds should be wait-and-see, and sell short every high more insurance.
Shanghai market Jinsha lead 1459514605 yuan / ton, Shanghai lead 2003 contract discount 10 yuan / ton to flat water quotation; southern, Mu Ron lead 14585 yuan / ton, Shanghai lead 2003 contract discount 20 yuan / ton; Jiangsu and Zhejiang market Yuguang, Jiang copper lead 14605 yuan / ton, Shanghai lead 2003 contract flat water quotation. Lead continued a strong trend, the holder shipped with the goods, downstream to maintain on-demand procurement, but the procurement of high-priced goods is still more cautious, bulk market transactions are limited.
Guangdong market South China lead 14535 yuan / ton, to SMM1# lead average price discount 40 yuan / ton, Henan Yuguang and other smelters to long single, gold lead 14575 yuan / ton, to SMM1# lead net average price flat water quotation; other areas such as: Hunan Shuikoushan 14575 yuan / ton, to SMM1# lead average price flat water quotation (trader), Jiang copper 14625 yuan / ton, to SMM net average price rises 50 yuan / ton; Guangxi Hechi South 14475-14505 yuan / ton, the average price of SMM net discount 70-100 yuan / ton; Anhui bronze crown 14625 yuan / ton, the average price of SMM network rose 50 yuan / ton; regeneration and resumption of work continued to delay, resulting in the marginal shortage of domestic refined lead, lead prices still maintain a strong trend, the primary lead market trading is better.
Zinc: zinc in Geneva, opened at US $2030.5 / ton, tried to break through the 5-day moving average in intraday trading and operated in a narrow range near US $2040 / ton. In the afternoon, the center of gravity dropped slightly by about US $5 / ton, and entered the European trading session. The low level of the US dollar rebounded. Lun Zinc fell rapidly under pressure and stopped finishing after falling 2016 US dollars / ton. As of 17: 30, Lun Zinc closed down $2020 / tonne, down $6 / tonne, or 0.27 per cent. Lun Zinc once again showed a low bottom situation, the upper short moving average suppression is obvious, the current overseas fundamentals are still no good performance, at the same time, the macro epidemic dark clouds do not disperse, short-term Lun zinc is expected to have a good performance.
Intraday Shanghai zinc main force 2005 contract opened at 16270 yuan / ton, multi-empty in the market alternately increase positions, Shanghai zinc around the daily average line in the vicinity of 16240 yuan / ton narrow vibration, the upper and lower amplitude is only about 30 yuan / ton. At the end of the day, it closed up at 16255 yuan / ton, up 30 yuan / ton, or 0.18%. The trading volume decreased by 18409 hands to 44273 hands, and the position increased by 5113 hands to 86106 hands. Shanghai zinc operation center of gravity slightly up, did not break through the 5-day moving average suppression, the performance of a weak rebound, at present to the inflection point has not appeared, funds remain cautious, Shanghai zinc short-term or pressure moving average operation.
Shanghai Zinc mainstream transaction in 16100-16140 yuan / ton, Shuangyan transaction in 16110-16150 yuan / ton; Shuangyan generally quoted flat water price in March; Shuangyan reported 10 yuan / ton in March; Shuangyan mainstream transaction in 16030-16070 yuan / ton. Shanghai zinc 2003 contract low shock, the first trading session in the morning closed at 16105 yuan / ton, the first time in the morning, the market is mainly shipping, the holder quoted flat on the 2003 contract, the average price of SMM flat quotation, but in general, after the holder slightly expanded to the discount quotation, with the offer to the 2003 contract discount 5 yuan / ton, the net average price discount 5 yuan / ton transaction; Entering the second period, the market quotation was stable, basically quoted flat for the 2003 contract, and today traders also moved their positions one after another to April; zinc prices rose against the low level, and the trading market was dominated by long single transactions, and the willingness to purchase downstream today decreased slightly, mainly due to rising prices.
The mainstream transaction in Ningbo was 16120-16180 yuan / ton, the ordinary brand raised 20-50 yuan / ton to the 2003 contract, and the price difference between Ningbo and Shanghai widened from 40 yuan / ton to 50 yuan / ton yesterday. Futures zinc rebounded slightly, morning holders quoted more enthusiastically, however, due to the recent Ningbo market supply is less, some of the holders reported goods, the west mine to the March contract rose 20 yuan / ton, Hualian reported a small amount of 50 yuan / ton to the March contract, and a small amount reported around 60 yuan / ton to the March contract. Disk back to the lower reaches of the willingness to buy weakened, into the second trading period, the West Mine transaction is better, other brands in general. Overall, market transactions today are weaker than yesterday.
The mainstream transaction of Guangdong zinc was 16050-16100 yuan / ton, and the quotation focused on the discount of 100-120 yuan / ton to Shanghai zinc 2004 contract. The discount of 40 yuan / ton in Guangdong stock market was 10 yuan less than that of the previous trading day. In the first trading period, the price center of gravity in the morning was higher than yesterday, and the demand in the lower reaches was lower, but the trading of traders was more active, some traders had a single gap, and the inquiry was more active. Huize, Kirin, Mongolian self-quotation for Shanghai zinc April contract around 110 yuan, Tiefeng discount 110-120 yuan; In the second trading session, trading between traders continued to drive market transactions, and the inventory of market warehouse receipts was relatively large, which also narrowed the tradable spot volume of the market compared with the previous period. Individual holders tried to continue to raise prices for shipments, but the trading volume of high-priced goods was on the low side. Kirin, Mengzi and Huize offer 100-110 yuan for April contract and 110 yuan for Tiefeng. Kylin, Mengzi, Huize, Tiefeng mainstream transaction in 16050-16100 yuan / ton.
The mainstream transaction of zinc ingots in Tianjin market is 16080-16980 yuan / ton, and that of ordinary brands is 16080-16130 yuan / ton. The discount for the 2003 contract is 30 yuan / ton to near Pingshui, and the discount in Tianjin is about 20 yuan / ton compared with that in Shanghai. Today, the Shanghai zinc high shock, the spot market downgraded the discount quotation, the Tianjin market quotation is more unified, the ordinary brand red Ye lark and so on in the 03 contract report discount 20 yuan / ton, Chi Hong newspaper in the 03 contract report discount 30 yuan / ton, the high price brand Zijin to the March contract near Pingshui. The resumption rate of downstream enterprises in Tianjin this week has increased compared with last week, however, the terminal project has not obviously started, the new orders are limited, and some employees are still in isolation, resulting in the downstream start-up rate to remain low; zinc prices rebounded today, traders shipment mood is not good, some traders like high price shipment, but downstream enterprises are mainly wait-and-see, the overall transaction today is poor. The transaction of zinc ingot is near 16030-16080 yuan / ton.
Tin: after the opening of US $16695 / ton today, after the opening of the Asian session to the opening of the European market, Lunxi generally showed a concussive upward trend, climbing to US $16870 / ton and quickly falling back under pressure. as of 17: 30, the latest price of Lunxi was US $16650 / ton, showing a small negative line, and the upper shadow line was longer, under pressure near the 60-day moving average. Resistance above Lunxi is expected to be around $16800 per tonne and lower support is expected to be around $16500 per tonne.
Shanghai tin main force 2006 contract today 135010 yuan / ton jump high open, the overall maintenance in the daily average 135800 yuan / ton shock finishing, finally closed at 135640 yuan / ton, up 1140 yuan / ton, up 0.85%, trading volume 18807 hands, position 42038 hands, an increase of 384 hands. Today, Shanghai tin closed with a small positive line, the physical part is located in the 10-day moving average, the upper shadow line to the 40-day moving average, the lower shadow line is supported by the 5-20 moving average. The resistance above tin in Shanghai is expected to be around 136000 yuan / ton.
Today's mainstream transaction price 136500-139000 yuan / ton. Although Shanghai tin rose, but the market wait-and-see sentiment still exists. Downstream enterprises buy relatively weak, a small number of traders have received goods. Shanghai tin spot market overall transaction atmosphere is generally weak, Yunxi 139000 yuan / ton fluctuations, ordinary cloud word 138500 yuan / ton near, small 136500-137500 yuan / ton.
Nickel: Lunni opened at US $12735 / ton today. Lunni as a whole is in the form of high opening and low walking today. At the beginning of the day, it fluctuated to a 20-day moving average of US $12800 / ton, with a small fluctuation under pressure. Subsequently, affected by the low recovery of the dollar index, Lunni fluctuated all the way down to US $12600 / ton, and the downward trend remained, at US $12630 / ton as of 16: 45, down $50 / ton, or 0.39%, from the settlement price of the previous trading day. Trading volume decreased by 5985 hands to 3130 hands, with a position of 265000 hands. Lunni today temporarily closed in the long shadow line small negative column, K column as a whole standing in the 10 / 20 moving average range, pay attention to the 10-day moving average support below Lunni at night.
Today, the trend of colored items is similar, most of them are high open low walking state. Shanghai Nickel 2006 contract today became the main trading contract, short high opened in 103310 / ton, before noon, the top pressure of 104000 yuan / ton pass, the center of gravity around the daily average line 103600 yuan / ton line of small shock, then short position pressure, Shanghai nickel shock downward, fell below the daily average line to 102800 yuan / ton line. In the afternoon, Shanghai nickel stabilized and fluctuated in the first line of 102800 yuan / ton, and finally closed at 102870 yuan / ton, up 1410 yuan / ton, or 1.39%, from the settlement price of the previous trading day. The trading volume decreased by 32000 hands to 300000 hands, and the position increased by 7271 hands to 68414 hands. Shanghai nickel 2006 contract closed today in the long shadow line small negative column, the shadow line piercing the 20-day moving average and the Boll line middle rail, jumped above the 5 / 10 moving average. Follow-up attention to Shanghai nickel in the Boll line middle rail and 5-day moving average interval concussion.
Today SMM1 electrolytic nickel offer 102600-104800 yuan / ton, Russian nickel to Shanghai nickel 2004 contract discount 350,200 yuan / ton. Nickel prices opened high this morning back to 103000 yuan, after the opening of the morning market, there are traders reported Russian nickel discount 400 yuan / ton, quickly concluded 30 tons, after the market low price goods are more difficult to find. In addition, due to the rebound of nickel prices, downstream fear of high wait-and-see, the morning market inquiry significantly weakened, the afternoon market Russian nickel transaction has improved, but the overall trading situation is still weak today. Jinchuan Nickel to Shanghai Nickel 2004 contract was quoted at 1600-1800 yuan / ton, the rising water was more stable than yesterday, and the transaction situation was similar to that of Russian nickel, which was also on the weak side. The ex-factory price of Jinchuan Company today is 104500 yuan / ton, 1900 yuan / ton higher than yesterday. Nickel beans to Shanghai Nickel 2004 contract reported 700 yuan / ton.
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